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Thread: Obama cuts deficit by over half

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    nick1's Avatar
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    Obama cuts deficit by over half

    http://www.washingtonpost.com/blogs/...g-the-deficit/

    To start things off, the CBO says the deficit this year will be $506 billion, or 2.9 percent of GDP. In 2013 it was $680 billion, so thatís a pretty steep drop. And in terms of GDP, not only is that slightly lower than the average deficit of the last 40 years (3.1 percent), itís also a†70 percent decline†from Obamaís first year in office, where because of the Great Recession, which brought both the need for more spending and a plunge in tax revenues, the deficit peaked at 9.8 percent of GDP.
    I know it is a crime to say anything pro Obama around here but the research checks out. He is as fiscally responsible as any republican would care to be. Even more so if you compare him to Bush. I'm not huge on talking politics because people can get really defensive of their side and blind often to the facts. But say what you want. Obama cut the deficit and the ACA was a big reason why
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    It is a start. This country is in a deep financial hole and it will take another decade of good budgeting just to see the light.
    This administration has not been honest with the citizenry about many topics. I am skeptical but hopeful.
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    Mike Wallace 112013 Dolphins Logo
    That would be comparable to a QB turning the ball over 46 times in one season, then being proud of only turning it over half as much the next.
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    I only overspent 500 billion. Look at me. All these politicians are a bunch losers. Balanced budget should be mandatory. If your net worth is more than million you should be removed from government pension plan. This could reduce that amount instantly. 20000 rich people drawing a pension from a country with no money is ridiculous
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    It's not like he can just go in and slash the deficit to 0. It requires years of slowly scaling back spending in order to not just **** up the economy.
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    Quote Originally Posted by beanh8er View Post
    It's not like he can just go in and slash the deficit to 0. It requires years of slowly scaling back spending in order to not just **** up the economy.
    That is the same excuse they have been using for 20 years. Wish I could spend 3-4% more than I make and do it for 20 years straight. They can do it without hurting the economy. But not without hurting their own pocket book. That is why it doesn't happen
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    Quote Originally Posted by Fins1971 View Post
    That is the same excuse they have been using for 20 years. Wish I could spend 3-4% more than I make and do it for 20 years straight. They can do it without hurting the economy. But not without hurting their own pocket book. That is why it doesn't happen
    You ddint get that excuse during the Clinton years which was less than 20 years ago. Overall the only President since Warren Harding to have a surplus and the highest surplus since we started the national debt.
    When death smiles upon you, the Infantry man smiles back. WV says Im not a patriot and Jeff Ireland is a Boss so it must be true.
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    Quote Originally Posted by WVDolphan View Post
    That would be comparable to a QB turning the ball over 46 times in one season, then being proud of only turning it over half as much the next.
    Well the only president that threw more tds than interceptions economically was Clinton. Bush Jr final budget deficit doubled to take us over the trillion mark.
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    Ok, I'll give Clinton credit for trying to make a change. But for Obama he has had how many years? And we are still overspending that much. Not acceptable.
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    Quote Originally Posted by LANGER72 View Post
    It is a start. This country is in a deep financial hole and it will take another decade of good budgeting just to see the light.
    This administration has not been honest with the citizenry about many topics. I am skeptical but hopeful.
    Like the previous administration was any more honest with the citizenry. In fact one of the biggest lies ever was perpetrated to that had us invade Iraq.
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